Tactile Systems Technology (NASDAQ:TCMD) Now Covered by Analysts at B. Riley

B. Riley started coverage on shares of Tactile Systems Technology (NASDAQ:TCMD) in a research report report published on Thursday, MarketBeat reports. The firm issued a buy rating and a $23.00 price objective on the stock.

Separately, StockNews.com upgraded shares of Tactile Systems Technology from a buy rating to a strong-buy rating in a report on Friday, September 20th.

Tactile Systems Technology Price Performance

TCMD stock opened at $14.22 on Thursday. The firm has a market cap of $337.87 million, a price-to-earnings ratio of 11.85 and a beta of 1.17. The company has a quick ratio of 3.89, a current ratio of 4.44 and a debt-to-equity ratio of 0.12. Tactile Systems Technology has a 12-month low of $9.69 and a 12-month high of $16.95. The company’s fifty day simple moving average is $13.22 and its 200 day simple moving average is $13.43.

Tactile Systems Technology (NASDAQ:TCMD) last released its earnings results on Monday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.10. The business had revenue of $73.22 million for the quarter, compared to analyst estimates of $72.62 million. Tactile Systems Technology had a net margin of 11.57% and a return on equity of 16.94%. On average, analysts expect that Tactile Systems Technology will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Tactile Systems Technology

Institutional investors have recently made changes to their positions in the stock. Palisade Asset Management LLC acquired a new position in shares of Tactile Systems Technology during the first quarter valued at about $32,000. Quarry LP acquired a new stake in shares of Tactile Systems Technology in the 2nd quarter worth about $46,000. RiverPark Advisors LLC raised its holdings in shares of Tactile Systems Technology by 802.5% in the 1st quarter. RiverPark Advisors LLC now owns 8,610 shares of the company’s stock worth $140,000 after acquiring an additional 7,656 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Tactile Systems Technology in the 1st quarter worth about $166,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Tactile Systems Technology in the 1st quarter worth about $167,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, a medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States. It offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema in the home setting; and Entre Plus System, a portable pneumatic compression device for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers.